Artemundi Management Limited, a Management Team with a Wealth of Experience in the Art Market.
Artemundi Global Fund’s (“AGF”) management, Artemundi Management Limited, is made up of art collectors and dealers who have invested more than a half billion in fine-art since 1988. We believe that success in the fine art market depends on a deep understanding of the behavior of the underlying asset, accumulated qualitative and quantitative methods; and global market arbitrage combined with the ability to identify, interpret and capitalize on specific art transaction opportunities. Artemundi Management Limited also has multinational expertise in the areas of logistics, safekeeping, restoration, cataloging, taxation, duties and conservation.
Active management means constantly searching for ways to add value to the portfolio, with the goal of achieving attractive returns that outperform the averages in the industry. The management is characterized by a cost-efficient administration that strives to optimize resources in the most efficient way. In order to maximize returns, one of its goals is to maintain operational costs at a minimum. The average Expense Ratio throughout years of operation has been 0.58%, a ratio significantly lower than the average alternative investment fund.
Operating in a market known for its high transaction costs, the management has the ability to keep the cost of each transaction at a minimum by avoiding elevated commissions or excessive premiums. AGF’s average commission paid has been 3.1% while the average in the art industry is estimated between 10-25%.
As active traders in many different forms of art, Artemundi Management Limited has a unique and ongoing perspective of the art-market tendencies. We are constantly monitoring the AGF strategy to ensure that we are on course by choosing the right works, at the right time, at the right price and that each contributes to the Fund’s expected return. Simultaneously, the management team makes the auditing of the Fund easier and more transparent. At any point in time, both the Fund administrator and the auditor can more precisely assess the real value of the portfolio and produce timely and accurate reports. Furthermore, active management enables AGF to generate the necessary liquidity required to take optimum advantage of unexpected opportunities that come its way.
Javier Lumbreras serves as the CEO of Artemundi Management Limited and is a fifth generation art collector from Spain. He is also the author of the book The Art of Collecting Art, an all-encompassing view on the art-market and an excellent guide to anyone wishing to invest or collect fine works of art.
Administration, Custody, Auditors & Insurance
Fund Auditors: KPMG Cayman Islands Limited
Insurance: Axa-Art Insurance Corporation, Chubb
International Financial & Legal Consultants: Walkers Corporate Services Limited
Special Council: K&L Gates LLP (US), Withers LLP (EU)
General Council: Jay Gayoso P.A. & Enrique Liberman, Di Santo Bowles Bruno & Lutzer LLP
Art Advisory Committee
The Art Advisory Committee reviews investment opportunities presented to the Master Fund and advises the Manager on all investment decisions for the fund. The Art Advisory Committee includes two representatives from the General Partner and one representative from each Strategic Investor. In addition, the Art Advisory Committee may expand to include individuals whom the General Partner believes can make a valuable contribution to the investment decision process by virtue of their position, influence, experience or knowledge of the art industry and investment focus of the fund.